US Mortgage Rates Drop to 6.48% in Latest Freddie Mac Survey

Key Facts

In a move reflecting the housing market's sensitivity to recent shifts in bond yields, Freddie Mac data showed a decline in mortgage borrowing costs. According to reports, the 30-year fixed-rate mortgage averaged 6.48%. This decrease reflects the weekly results of the Primary Mortgage Market Survey (PMMS), which tracks prevailing mortgage rate trends across the United States.

This decline comes as global housing data shows significant variance, with Japan's housing starts recording an 11.4% year-on-year increase in May 2026, missing the 15.5% forecast per market data. Meanwhile, investors are closely monitoring speeches from Federal Reserve officials, including Kashkari and Schmid, for clues on the monetary policy path that directly influences long-term mortgage rates.

Looking ahead, traders are eyeing US wholesale inventories data, which showed a 0.5% increase as of May 2026, to gauge broader economic resilience. With current rates stabilizing, the market will focus on upcoming economic catalysts that could push mortgage levels toward new technical support zones, especially amid ongoing uncertainty regarding the Fed's rate-cut trajectory.